98261, Lopez Island, WA

The 98261 zip code of Lopez Island, WA is located on the north end of Lopez Island and has a population of just over 1,000 people. The median home value in this zip code is $269,000 which is significantly higher than the statewide median home value of $206,500. In addition, the home equity in this zip code is also significantly higher than the statewide average home equity of $130,700. This indicates that homeowners in this zip code are more likely to have a significant amount of equity in their homes than homeowners statewide.

One reason why homeowners in this zip code are more likely to have a high level of home equity is because there are relatively few homes for sale in this area. In fact, there were only 22 active listings as of May 2017 which is less than one-third the number of listings that were active during the same time period last year. This lack of inventory may be contributing to the high level of home equity found in this area. Additionally, many homeowners here may be able to afford to pay higher prices for homes due to their high incomes or low levels of debt.

Despite these factors, it's important to keep in mind that not everyone living in this zip code has access to such high levels of home equity. For example, some borrowers who have low credit scores or limited income may not be able to purchase a house even if they want to because they would not be able to afford the mortgage payments on a house with a lower price tag. Additionally, while it's true that most homeowners here have more money available for spending on their homes than most people nationwide do, there are still plenty of people who struggle financially and cannot afford a house even with ample savings or income from other sources.